§ Mr. Mawbyasked the Secretary of State for Foreign and Commonwealth Affairs what is the amount of capital aid being made available to Morocco.
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§ Mr. WoodThe Royal Moroccan Government have accepted an offer by Her Majesty's Government to provide a loan of £1 million as the initial instalment of a programme of British capital assistance towards the economic development of Morocco. The loan is to be spent on British goods and services, and will be used to finance agreed development projects. The loan will be repaid over a period of 25 years, including a grace period of four years, and interest will be at 3 per cent. I expect drawings under the loan to start in the financial year 1972–73.